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Stagflation In Pakistan
The Periods of Stagflation, also known as Stagflation in Pakistan or inflation and unemployment in Pakistan, are periods of economic stagflation in Pakistan's Economic history of Pakistan, economic history, which has affected Pakistan's economic trajectory since its inception. The first period of stagflation began in the 1970s after the secession of East Pakistan and the formation of Bangladesh following the Pakistani Instrument of Surrender, surrender during the Bangladesh Liberation War. Although the government of Zulfikar Ali Bhutto made an attempt to end this period, it was subsequently ended by the Zia regime, military government of Muhammad Zia-ul-Haq, Zia-ul-Haq in the 1980s. The end of Soviet–Afghan War, Soviet engagement in Communist Afghanistan, Afghanistan and increasing U.S. aid to Pakistan facilitated a second period of stagflation in the 1990s. During this period, both Benazir Bhutto and Nawaz Sharif attempted to tackle stagflation, with Nawaz Sharif first implemen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stagflation
In economics, stagflation or recession-inflation is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment. The term, a portmanteau of '' stagnation'' and ''inflation'', is generally attributed to Iain Macleod, a British Conservative Party politician who became Chancellor of the Exchequer in 1970. Macleod used the word in a 1965 speech to Parliament during a period of simultaneously high inflation and unemployment in the United Kingdom.Introduction, page 9. Warning the House of Commons of the gravity of the situation, he said: Macleod used the term again on 7 July 1970, and the media began also to use it, for example in ''The Economist'' on 15 August 1970, and ''Newsweek'' on 19 March 1973. John Maynard Keynes did not use the term, but some of his work refers to the conditions that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
War In North-West Pakistan
The insurgency in Khyber Pakhtunkhwa, also known as the War in North-West Pakistan or Pakistan's war on terror, is an ongoing armed conflict involving Pakistan, and Islamist militant groups such as the Tehrik-i-Taliban Pakistan (TTP), Jundallah, Lashkar-e-Islam (LeI), TNSM, al-Qaeda, and their Central Asian allies such as the IS–Khorasan (IS-K), Islamic Movement of Uzbekistan, East Turkistan Movement, Emirate of Caucasus, and elements of organized crime.Varun Vira and Anthony Cordesma"Pakistan: Violence versus Stability: A Net Assessment." ''Center for Strategic and International Studies'', 25 July 2011. Formerly a war, it is now a low-level insurgency as of 2017. The armed conflict began in 2004 when tensions rooted in the Pakistan Army's search for al-Qaeda fighters in Pakistan's mountainous Waziristan area (in the Federally Administered Tribal Areas) escalated into armed resistance. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pakistani Rupee
The Pakistani rupee ( ur, / ALA-LC: ; sign: Re (singular) and Rs (plural); ISO code: PKR) is the official currency of Pakistan since 1948. The coins and notes are issued and controlled by the central bank, namely State Bank of Pakistan. In Pakistani English, large values of rupees are counted in thousands; lakh (100,000); crore (ten-millions); Arab (billions); kharab (100 billion). Numbers are still grouped in thousands (123,456,789 rather than 12,34,56,789 as written in India) History The word ''rūpiya'' is derived from the Sanskrit word ''rūpya'', which means "wrought silver, a coin of silver", in origin an adjective meaning "shapely", with a more specific meaning of "stamped, impressed", whence "coin". It is` derived from the noun ''rūpa'' "shape, likeness, image". ''Rūpaya'' was used to denote the coin introduced by Sher Shah Suri during his reign from 1540 to 1545 CE. The Pakistani rupee was put into circulation in Pakistan after the dissolution of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pakistan Peoples Party
The Pakistan People's Party ( ur, , ; PPP) is a centre-left, social-democratic political party in Pakistan. It is currently the third largest party in the National Assembly and second largest in the Senate of Pakistan. The party was founded in 1967 in Lahore, when a number of prominent left-wing politicians in the country joined hands against the military dictatorship of President Ayub Khan, under the leadership of Zulfikar Ali Bhutto. Affiliated with Socialist International, the PPP's platform has formerly been socialist, and its stated priorities continue to include transforming Pakistan into a social-democratic state, promoting secular and egalitarian values, establishing social justice, and maintaining a strong military. The party, alongside the Pakistan Muslim League-Nawaz and the Pakistan Tehreek-e-Insaf, is one of the 3 largest political parties of Pakistan. Since its foundation in 1967, it has been a major centre-left force in the country and the party's leadership ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nationalization In Pakistan
The Nationalisation process in Pakistan (or historically simply regarded as the "Nationalisation in Pakistan") was a policy measure programme in the economic history of Pakistan, first introduced, promulgated and implemented by Prime Minister Zulfikar Ali Bhutto and the Pakistan Peoples Party to lay the foundation of socialist economics reforms to improve the growth of national economy of Pakistan. Since the 1950s, the country had undergone a speedy industrialisation and became an industrial paradise in Asia. But, as time progressed, the labour trade unions and labour-working class had increasingly strained relations with the industrial business oligarch class, having neglected to improve working conditions and failing to provide a healthy and safe environment for the workers in these industrial industries. The nationalisation programme began on 2 January 1972, with a vision to promote economic democracy, liberalisation, and an initial mainstream goal to put Pakistan in line with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Planning Commission (Pakistan)
The Planning Commission (denoted as PC) ( ur, ) is a financial and public policy development institution of the Government of Pakistan. The Commission comes under Ministry of Planning, Development and Reforms. The Planning Commission undertakes research studies and state policy development initiatives for the growth of national economy and the expansion of the public and state infrastructure of the country in tandem with the Ministry of Finance (MoF). Since 1952, the commission have had a major influence and role in formulating the highly centralized and planned five-year plans for the national economy, for most of the 20th century in Pakistan. Although the five-year plans were replaced by Medium Term Development Framework, the commission still played an influential and central role in the development of the programme. Furthermore, the Public Sector Development Programmes (PSDP) also placed under the domain of the planning commission. The commission's authoritative figures in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Five-Year Plans Of Pakistan
The Five-Year Plans for the National Economy of Pakistan ( ur, ) (otherwise publicly known as Five-Year Economic Plans for the National Economy), were the series of nationwide centralised economic plans and targets as part of the economic development initiatives, in the Pakistan. The plan was conceived by the Ministry of Finance (MoF), and were studied and developed by the Economic Coordination Committee (ECC) based on the theory of Cost-of-production value, and also covered the areas of Trickle-down system. Supervision and fulfillment of this programme became the watchword of Pakistan's civil bureaucracy since early 1950s. Inspired by the five-year plans of the Soviet Union, the programme was visioned and proposed by the Finance Minister Malick Ghoulam to Prime minister Liaquat Ali Khan who initially backed the programme, in 1948. The first five-year plans were approved by the prime minister Ali Khan in 1950 for the period of 1950–55; it was accepted in a view to serve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Command And Control Economy
A planned economy is a type of economic system where Investment (macroeconomics), investment, Production (economics), production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use Central planning, centralized, Decentralized planning (economics), decentralized, Participatory economics, participatory or Soviet-type economic planning, Soviet-type forms of economic planning. The level of centralization or decentralization in decision-making and participation depends on the specific type of planning mechanism employed. Socialist states based on the Soviet model have used central planning, although a minority such as the former Socialist Federal Republic of Yugoslavia have adopted some degree of market socialism. Market abolitionist socialism replaces factor markets with direct calculation as the means to coordinate the activities of the various socially-owned economic enterprises that make up the eco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pakistan Rupee
The Pakistani rupee ( ur, / ALA-LC: ; sign: Re (singular) and Rs (plural); ISO code: PKR) is the official currency of Pakistan since 1948. The coins and notes are issued and controlled by the central bank, namely State Bank of Pakistan. In Pakistani English, large values of rupees are counted in thousands; lakh (100,000); crore (ten-millions); Arab (billions); kharab (100 billion). Numbers are still grouped in thousands (123,456,789 rather than 12,34,56,789 as written in India) History The word ''rūpiya'' is derived from the Sanskrit word ''rūpya'', which means "wrought silver, a coin of silver", in origin an adjective meaning "shapely", with a more specific meaning of "stamped, impressed", whence "coin". It is` derived from the noun ''rūpa'' "shape, likeness, image". ''Rūpaya'' was used to denote the coin introduced by Sher Shah Suri during his reign from 1540 to 1545 CE. The Pakistani rupee was put into circulation in Pakistan after the dissolution of the Br ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Devaluation
In macroeconomics and modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange-rate system, in which a monetary authority formally sets a lower exchange rate of the national currency in relation to a foreign reference currency or currency basket. The opposite of devaluation, a change in the exchange rate making the domestic currency more expensive, is called a ''revaluation''. A monetary authority (e.g., a central bank) maintains a fixed value of its currency by being ready to buy or sell foreign currency with the domestic currency at a stated rate; a devaluation is an indication that the monetary authority will buy and sell foreign currency at a lower rate. However, under a floating exchange rate system (in which exchange rates are determined by market forces acting on the foreign exchange market, and not by government or central bank policy actions), a decrease in a currency's value relative to other major curren ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of Pakistan
The prime minister of Pakistan ( ur, , romanized: Wazīr ē Aʿẓam , ) is the head of government of the Islamic Republic of Pakistan. Executive authority is vested in the prime minister and his chosen cabinet, despite the president of Pakistan serving as the nominal head of executive. The prime minister is often the leader of the party or the coalition with a majority in the lower house of the Parliament of Pakistan, the National Assembly where he serves as '' Leader of the House''. Prime minister holds office by virtue of their ability to command the confidence of the National Assembly. The prime minister is designated as the "Chief Executive of the Islamic Republic". Pakistan's prime minister leads the executive branch of the federal government, oversees the state economy, leads the National Assembly, heads the Council of Common Interests as well as the Cabinet, and is charged with leading the National Command Authority over Pakistan's nuclear weapons arsenal. This p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yousaf Raza Gillani
Yusuf Raza Gilani (Urdu: ; born 9 June 1952), is a Pakistani politician who served as 18th Prime Minister of Pakistan from 25 March 2008, until his retroactive disqualification and ouster by the Supreme Court of Pakistan on 26 April 2012. He currently serves as the vice-chairman of the central executive committee of the Pakistan Peoples Party. and in 2021 was elected as a Senator. On 26 March 2021, he was appointed as Leader of Opposition in the Senate of Pakistan. Gillani is also a consultant to Cheshire East Council in England. After the 1988 general elections, he secured his ministerial appointment in the Ministry of Tourism in the government of former prime minister Benazir Bhutto, and since then, he had been a senior member of parliament for the Multan District. After his party secured the plurality in the 1993 general elections, Gillani was elevated as the 15th Speaker of the National Assembly by the Prime Minister Benazir Bhutto, a post he held until 16 Februa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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